The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail Sale In Non-Specialised Stores
220 jobs Number of planned job losses
Announcement Date
4 January 2024
Employment effect (start)
4 February 2024
Foreseen end date
4 February 2024
Description
The Swedish retail company Teknikmagasinet has applied for bankruptcy on January 4th and the bankruptcy is expected to affect 220 workers in 36 stores around Sweden. According to the CEO of Teknikmagasinet, this is because of a long period of declining sales and a costly attempt to shift their core revenue stream from retail to the sale of used phones and mobile phone reparations.
Teknikmagasinet previously filed for bankruptcy in 2020 but were bought up in 2022 by the Norwegian company Release.
Sources
9 January 2024: Teknikmagasinet i konkurs – över 200 anställda drabbas (handelsnytt.se)
5 January 2024: Teknikmagasinet i konkurs – nya ägaren ger upp (www.mobil.se)
Citation
Eurofound (2024), Teknikmagasinet , Bankruptcy in Sweden, factsheet number 200675, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200675.
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